For those who know exactly that fixed deposit is the best way to save money, opening HSBC Fixed Deposit (FD) Singapore is probably going to be the mandatory thing to do. Indeed, there are tons of people who can make money out of this method as you just have to store your money into an account and let them grow on its own.
Below is the full explanation about the fixed deposit account from HSBC Singapore. Make sure that you read them so that you know what it takes and how to open the account easily. All needed information is already here so that you can use them later on.
Why Open HSBC Fixed Deposit (FD) Singapore?
There are some reasons why people want to open the account for Fixed Deposit in HSBC Singapore. Among all the reasons, some of them are:
Attractive Interest Rate
One of the best things about opening deposit account in HSBC is the fact that you can get attractive rate to grow your saving. When first opening the account, you will have to make a deposit of minimum SGD 5000.
There will be high interest rate applied to the money and it gets transferred automatically to the saving account, hence growing the saving indeed.
Flexible Deposit Periods
Whether you want to make a deposit of your money for 6 months or probably 1 year, you can all do that. HSBC has numerous options when it comes to deposit period.
Each period or length of the tenor will give you different interest rate. For detailed information related to the exact rate, contact the HSBC nearest branch and talk to the customer service.
Automatic Renewal
If you feel comfortable with the deposit and you want to make it even longer, you should be able to do that so easily. The HSBC deposit has the feature of automatic renewal.
The renewal will be automatically applied to the account hence making the tenor longer and bring you more profit out of your saving. This is the reason why this deposit account is so beneficial.
HSBC Premier Interest Rates (p.a)
| Deposit Range (% p.a) | S$5,000 to S$49,999 | S$50,000 to S$99,999 | S$100,000 to S$199,999 | S$200,000 to S$499,999 | S$500,000 to S$999,999 | S$1,000,000 and above |
|---|---|---|---|---|---|---|
| 1 mth | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| 3 mths | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| 6 mths | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 |
| 12 mths | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| 24 mths | 1.1 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
HSBC Jade Interest Rates (p.a)
| Deposit Range | S$5,000 to S$49,999 | S$50,000 to S$99,999 | S$100,000 to S$199,999 | S$200,000 to S$499,999 | S$500,000 to S$999,999 | S$1,000,000 and above |
|---|---|---|---|---|---|---|
| (% p.a) | ||||||
| 1 mth | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 |
| 3 mths | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 |
| 6 mths | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 | 0.21 |
| 12 mths | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 |
| 24 mths | 1.1 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
HSBC Personal Interest Rates (p.a)
| Deposit Range (% p.a) | S$5,000 to S$49,999 | S$50,000 to S$99,999 | S$100,000 to S$199,999 | S$200,000 to S$499,999 | S$500,000 to S$999,999 | S$1,000,000 and above |
|---|---|---|---|---|---|---|
| 1 mth | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| 3 mths | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| 6 mths | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
| 12 mths | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| 24 mths | 1.1 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
You may also like: ICBC Fixed Deposit Singapore
How to Open HSBC Fixed Deposit (FD) Singapore?
These are the steps and explanations about how to open the account:
- To start opening the deposit account, log in to personal internet banking from HSBC. Log in to your account using your user name and PIN. If your app has the fingerprint ID and face ID feature already, log in to your account using those features.
- Go to Deposit section and select Open Deposit Account.
- Select the options for tenor and insert the amount of money to store. From there, follow the next instruction to transfer the fund from the saving account to the deposit account.
- Finish the account opening by clicking Open.
Now you know how to open the account and why opening the account is such a beneficial thing to do. You just have to follow the instruction and make sure that you can open them easily. The HSBC Fixed Deposit (FD) Singapore is surely beneficial for you.
